Yext (NYSE:YEXT) Share Price Passes Above 50 Day Moving Average – Here’s Why

Yext (NYSE:YEXT)’s stock price crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $3.82 and traded as high as $3.97. Yext shares last traded at $3.8050, with a volume of 2,413,030 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Roth Mkm lowered shares of Yext from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $9.50 to $6.00 in a research report on Wednesday, March 11th. Wall Street Zen cut Yext from a “buy” rating to a “hold” rating in a report on Sunday, May 3rd. Weiss Ratings raised Yext from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, June 3rd. B. Riley Financial lowered their price objective on Yext from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, March 10th. Finally, DA Davidson restated a “neutral” rating and issued a $6.00 target price on shares of Yext in a research note on Wednesday, March 11th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $7.50.

Yext Trading Up 0.1%

The stock has a market cap of $381.45 million, a P/E ratio of 54.36 and a beta of 1.16. The company has a debt-to-equity ratio of 6.03, a current ratio of 0.79 and a quick ratio of 0.79. The business’s 50 day simple moving average is $3.82 and its 200 day simple moving average is $5.56.

Yext (NYSE:YEXT) last released its quarterly earnings data on Tuesday, June 2nd. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. Yext had a return on equity of 43.47% and a net margin of 8.93%.The company had revenue of $107.92 million for the quarter, compared to the consensus estimate of $110.70 million. During the same period in the previous year, the business earned $0.13 earnings per share. The company’s quarterly revenue was down 1.4% on a year-over-year basis. On average, analysts expect that Yext will post 0.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Seth H. Waugh acquired 133,000 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was purchased at an average cost of $3.75 per share, for a total transaction of $498,750.00. Following the completion of the purchase, the director directly owned 319,411 shares of the company’s stock, valued at $1,197,791.25. The trade was a 71.35% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Allan Tang sold 10,000 shares of Yext stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $3.62, for a total value of $36,200.00. Following the transaction, the chief accounting officer directly owned 7,848 shares of the company’s stock, valued at approximately $28,409.76. The trade was a 56.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On Yext

Several institutional investors have recently added to or reduced their stakes in the company. New York State Teachers Retirement System grew its stake in Yext by 9,253.0% during the first quarter. New York State Teachers Retirement System now owns 9,353 shares of the company’s stock worth $36,000 after buying an additional 9,253 shares during the last quarter. Clearstead Advisors LLC raised its stake in shares of Yext by 147.1% in the fourth quarter. Clearstead Advisors LLC now owns 4,677 shares of the company’s stock valued at $38,000 after acquiring an additional 2,784 shares during the last quarter. Gamco Investors INC. ET AL acquired a new position in shares of Yext in the 1st quarter worth approximately $38,000. Able Wealth Management LLC acquired a new position in shares of Yext in the 1st quarter worth approximately $48,000. Finally, Sequoia Financial Advisors LLC bought a new stake in Yext during the 1st quarter worth approximately $49,000. 70.98% of the stock is owned by institutional investors.

About Yext

Yext, Inc is a software-as-a-service company that provides a platform for digital knowledge management. Its core offering enables businesses to centrally manage and synchronize public-facing information—such as location details, product descriptions and service offerings—across a network of search engines, mapping services, voice assistants and third-party directories.

The Yext platform is built around a proprietary Knowledge Graph, which stores and structures data to ensure consistency and accuracy.